Expert: the stock market does not take into account the risks that threaten the economy
Riding on a wave of optimism about the imminent proliferation coronavirus vaccines, stock market players underestimate a number of problems that threaten the economy. Warns about this Investment Director of Exencial Wealth Advisors Tim Courtney, a $ 3.1 billion wealth manager, quotes edition of The Wall Street Journal. The stock market continues to set new records - on Thursday, the indices in once again reached highs. However, even if the vaccine will be widely used very soon, the current the deterioration of the situation with coronavirus will have time to negatively affect economy even before that - it has already led to a tightening of quarantine measures in different countries and may cause new restrictions. Besides, production and distribution difficulties may arise drug, Courtney notes. In his opinion, these risks are not reflected in current in stock prices. Bank of America recently recommended selling, indicating that market optimism has reached extreme levels.